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Auction Rate Securities: What Happens When Auctions Fail
http://www.finra.org/InvestorInformation/InvestorAlerts/TradingSecurities/AuctionRateSecuritiesWhatHappensWhenAuctionsFail/index.htm
Merrill Lynch, UBS, Citigroup, Morgan Stanely, J.P. Morgan Chase, and Wachovia Auction-rate securities
James B. Stewart writes in the WSJ about how banks were selling off there own interests in auction-rate securities as they were still peddling them to clients. It is a pessimistic but good story. Auction-Rate Securities And the Ugly Truth
Chung Mong-koo
The ex-boss of Huyndai Motor was given a presidential pardon from South Korea's president. Chung Mong-koo was convicted in February 2007 of embezzlement and breach or trust. The bbs.co.uk article can be read here.
David A. Talbot
An adviser for Michael Vick is being charged with fraud for is role in conning at least 10 investors out of approximately $500,000. Mr. Talbot is being charged with promising investors weekly returns of up to 35%, but instead kept the money. The full article by Andrew...
Christopher G. Wright
The aide to councilman Jack Kelly was indicted for accepting money, gifts and the use of an apartment in exchange for helping two real estate developers and their lawyers in dealings with the city. The developers were also charged. The full article can be read here.
Albert Gonzalez, Maksym Yastremskiy, Aleksandr Suvorov, Hung0Ming Chiu, Zhi Zhi Wang, Sergey Pavolvich, Dzmitry Burak, and Sergey Storchak
The US Department of Justice has just cracked the biggest identity theft case ever. news.bbc.co.uk reports that the leader of the fraud used to be a secret service informant prior to selling more than 40 million bank card numbers. The article can be read here.
Hernan Arbizu
Aaron Siegel writes at investmentnews.com that Arbizu was arrested Monday in Buenos Aires on charges that he stole $5.4M from customers at UBS AG and JPMorgan Chase & Co. If he is extradited to the U.S., he faces up to 30 years in prison and $5M in fines if...
The US Marshalls and Samuel Israel
Robert Schmidt from bloomberg.com reports on the U.S. Marshall's role in liquidating companies seized from fleecers. The full article can be read here.